Good morning. Futures are a touch lower, sp -1pt, we're set to open at 1721. Precious metals are significantly lower, with Gold -$15. Oil is moderately lower, -0.2%. Bulls can easily sustain any opex chop, down to around sp'1710. Weekly charts will remain outright bullish.
So, we're set to open a touch lower, and I think there is a fair chance by late morning we'll be somewhere in the sp'1715/10 zone.
At that level, I'll seriously consider going long the indexes, with an exit target of the 1730s next week.
Today is quad-opex, so price action could be a bit choppy.
Notable movers in early market: AAPL +$7 @ $479., GDX -1.8%.
It would seem Oscar agrees with my view, at least for today
9.17am.. so much for a slightly lower open, sp +3pts, we're now set to open at 1725.
Regardless, I won't chase the open. Lets see how we trade across the morning.
9.37am...looks like a sell the open situation.
The sp'1715/10 zone looks very viable later today.